Grand Bank of Texas customers to receive details on BancorpSouth conversion
A merger between BancorpSouth Bank and Grand Bank of Texas closed April 1. Two Grand Bank branch locations in the Highland Lakes — Horseshoe Bay and Marble Falls — will become part of BancorpSouth Bank. BancorpSouth currently has branch locations in Kingsland (pictured), Lampasas, Burnet, Marble Falls, and Llano. Staff photo by Jared Fields
FROM STAFF REPORTS
A previously announced merger between BancorpSouth Bank and Grand Bank of Texas closed April 1.
BancorpSouth Bank is headquartered in Tupelo, Mississippi, and operates 295 full-service branch locations in eight states, including Texas.
Grand Bank operated four locations in Texas, including in Horseshoe Bay and Marble Falls, with about $350 million in assets.
Before the merger, BancorpSouth Bank had nearly $18 billion in assets. The April 1 merger, which also includes Merchants Bank based in Jackson, Alabama, increases BancorpSouth’s assets to about $18.6 billion.
In an April 1 media release, BancorpSouth said current Grand Bank customers will be contacted with “detailed communications” prior to the bank’s system conversion.
“At this time, customers should continue using their current branches, checks, bank cards, online banking, and other banking services,” the release stated.
The merger first was announced in November.